Documents recently released by Coinbase through a Freedom of Information Act (FOIA) request reveal the New York Attorney General’s (NYAG) push for the SEC to classify Ethereum as a security. This urgency was evident during the SEC’s 2023 enforcement action against cryptocurrency exchange KuCoin, where the NYAG urged the agency to support this stance. However, the SEC ultimately declined to publicly confirm or deny this position. An email from Shamiso Maswoswe, head of the Investor Protection Bureau at NYAG’s office, directly requested that the SEC file an amicus brief arguing for Ethereum’s (ETH) designation as a security. While acknowledging that the classification wouldn’t affect the state’s ability to pursue the case, given New York’s regulatory oversight encompassing both securities and commodities, Maswoswe emphasized the potential for a court ruling affirming ETH’s security status to benefit investor protection. The SEC did not file this brief and has since maintained a largely ambiguous stance on ETH’s classification. The SEC previously suggested that Ether was likely a commodity, but following Ethereum’s transition to proof-of-stake, speculation intensified regarding its potential for securities law scrutiny. Despite ongoing investigations, the SEC never officially classified ETH as a security. 2023 concluded with the KuCoin case, where the exchange reached a $22 million settlement and ceased operations in New York. Attorney General Letitia James highlighted this enforcement action as part of broader efforts to hold crypto platforms accountable for operating without proper licensing. In addition to the KuCoin case, Coinbase’s FOIA requests have uncovered further SEC discussions about digital asset classification, including internal commentary on Ripple’s XRP and the regulatory boundaries between centralized and decentralized blockchain projects. This information has been released as part of Coinbase’s legal and public policy efforts to push for greater transparency in crypto regulation.